Its springtime in Washington. The cherry blossoms have lost their premature bloom, but talk of financial regulatory reform is in full flower. Lets hope that these reform discussions are longer-lived than the cherry blossoms. There is reason to worry, however, that we will not succeed in more than superficially disentangling ourselves from Dodd-Franks seductive embrace.
On the promising side, we are hearing some calls for reform from people who were central in shaping Dodd-Frank implementation. For example, as Federal Reserve Governor Daniel Tarullo packed his bags, he made an…

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